GI Plastek, Precision Southeast Inc., and Plastics Solutions, Inc. Announce They Are Now PSI Molded Plastics
Merger provides solutions for widest range of injection molding needs
GI Plastek, Precision Southeast Inc., and Plastics Solutions, Inc. proudly announce they are now PSI Molded Plastics. The three sister injection molding companies are all owned by Gladstone Investment (NASDAQ: GAIN). Citizens Bank assisted with the financing of the merger. With the merger, each of the companies can now share their distinct areas of expertise throughout the organization. The merger expands the company’s presence into a variety of markets, including automotive, healthcare and diagnostic, appliance, and material handling, as well as filtration, sports and leisure, industrial, and lawn and garden.
The new organization provides customers with a single company that can support a customer’s injection molded component requirements – from large parts to small and from low to high volumes. Also available are post mold finishing, paint and decorating, and assembly capabilities, as well as automotive certifications. Offering access to multiple injection molding processes, PSI Molded Plastics’ capabilities include gas assist, structural foam, and overmolding, along with in-house tooling.
PSI Molded Plastics’ manufacturing facilities are located in Wolfeboro, New Hampshire, South Bend, Indiana, and Myrtle Beach and Marion, South Carolina.
“We are very excited about this opportunity to bring together these companies and the talented people within them to provide our customers with an in-depth solution to their injection molded plastics needs,” said Daniel Mills, President and CEO of PSI Molded Plastics. “We appreciate Gladstone’s support in this merger and its continued investment in our growth.”